ANALYSIS: Blacks Get Poorer as Whites Average Six Times the Wealth as People of Color

There’s no question that racism in the workplace plays a critical role in the lack of wealth generated by black Americans. If black folks make less, it’s hard to afford luxuries like nice homes, vacations, private schools, nannies, and basics like affordable health care.

“Wealth isn’t just money in the bank, it’s insurance against tough times, tuition to get a better education and a better job, savings to retire on, and a springboard into the middle class. In short, wealth translates into opportunity,” Signe-Mary McKernan, Caroline Ratcliffe, Eugene Steuerle, and Sisi Zhang wrote in “Less than Equal: Racial Disparities in Wealth Accumulation.”

Because Hispanics and blacks are disproportionately low income earners, the researchers said, their wealth prospects are strongly affected by safety net policies aimed at low-income families.

Are you being paid sufficiently on your job? Have you been a victim of racial discrimination?